5 Investment Apps That Can Save Your Finances In 2022

Written by Olubanke Favour

Photo by Etty Fidele on Unsplash

Everyone wants to be a billionaire, no doubt. But let’s admit it; these billions would not show up in our faces overnight. Rather than the popular act of saving, wealth management also happens when we invest wisely. Thanks to tech gurus and financial analysts, you are provided with investment opportunities at your fingertips. With these apps, you get to invest in foreign and local companies, there is also an excellent system for observing investment as well as uncomplicated methods for withdrawing your gains. And the fun part? You get to blend your money with those of the world’s richest people.

Let’s take a look at 5 investment apps and see what they offer.

1. Bamboo: This app is one of the most widely used investment apps in Nigeria. It offers Nigerians access to over 3000 stocks from the American and Nigerian markets right from your mobile phone or computer. You can fund your accounts with the dollar and naira currencies. With 15,000 naira, you can invest in any company of your choice with a withdrawal charge of ₦45. You can trade shares from top companies like Google, Apple, Netflix, and Tesla. If you are still unsure about Bamboo, this company is insured by FINRA (Financial Industry Regulatory Authority) and SIPC (Securities Investor Protection Corporation) for up to $500,000. So be rest assured that there is backup cash to compensate users in the event of unforeseen circumstances.
2. Rise: Also known as Risevest, this investment app was designed to help you invest in different asset classes such as stocks, real estate, and fixed income. You can navigate this app easily whether you are a newbie or a pro thanks to its bugless platform. With $10 (₦4,000), you can begin your journey in investment and own stakes in companies like Facebook, Alibaba, and Google with a withdrawal charge of ₦35.
3. Chaka: Chaka is another investment app regulated by the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) in Nigeria, and also Financial Industry Regulatory Authority (FINRA) as well as Securities Investor Protection Corporation (SIPC) in the United States. This should put your mind at rest if you are unsure about investing. You also have direct access to over 4,000 tradable stocks from countries like Nigeria, the US, and China with companies like Dangote and Facebook. The best part — is there’s no withdrawal fee.
4. Trove: The Trove app is an app that allows you to invest in foreign companies. You have provided investment opportunities in Nigeria, America, and China. Investment in the app starts at ₦1,000 and you get to invest in stocks, bonds, and treasury bills. The tradable stocks on Trove are American Depository Receipts (ADRs), US equities and exchange-traded funds (ETFs), Nigerian stocks, and mutual funds. All investments made can be seamlessly monitored within the app. This app is supported by DriveWealth LLC, Sigma Securities LTD, and ARM Investment Managers.
5. I-invest is a Sterling Bank product and the first treasury bills app in West Africa. This app provides investment options such as treasury bills, Eurobonds, and equities. It also offers several security options that guarantee that your money is safe while you earn. Other perks of using this app include no additional charges, no broker required, and no paperwork. All you need is your government-issued ID card and proof of residence. You can set up your profile and monitor your account, all from the comfort of your home.

Just like other financial services like bank apps and saving apps, investment apps also have their cons. There might be glitches in the systems and you may be unable to get 10/10 quality service. However, be rest assured that these apps will help you get started in your investment journey. If you have more questions or issues, you could shoot them an email or reach out to customer service.

Favour is a 400-level student of the faculty of law in the University of Lagos. She is a writer who finds joy in sharing stories through fiction and non-fiction. She loves food, fashion, and poetry.

Edited by Zulu Nneka Anyaogu

Zulu is a Lawyer, Programs manager, and Youth Human Rights Advocate who is passionate about women’s rights and the inclusion of young people in decision-making spaces. In her spare time, you’d catch her binging on movies, reading crime and mystery novels, and eating. Connect with Zulu on Instagram, Twitter, and LinkedIn.

Published by Yetunde Onafuye

Yetunde is a storyteller, podcaster, and a graduate student with interest in the social and political history of post-independence Africa. She’s also the co-lead editor at Sisterly HQ. In her free time, she reads and reviews books, engages in social volunteering, and watches tons of dramas and TV shows. Connect with Yetunde on LinkedIn and Instagram.